Key Takeaways:

• Mobile Computing’s presence in Buenos Aires strengthens Grid Dynamics’ follow-the-sun delivery model to better serve its enterprise clients.
• The acquisition expands Grid Dynamics’ client portfolio, adding leading companies from the manufacturing, CPG, and financial services industries.
• Grid Dynamics gains a skilled team known for delivery excellence in digital product co-creation and UI/UX services.

Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) (Grid Dynamics), a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services, today announces its acquisition of Mobile Computing S.A., a highly regarded software development services provider based in Buenos Aires, Argentina. This strategic acquisition enhances Grid Dynamics’ delivery capabilities in the Americas and reinforces its commitment to providing engineering excellence for its global enterprise clients.

Founded in 1998, Mobile Computing is recognized as a leader in digital transformation, offering a comprehensive suite of solutions spanning industries including manufacturing, CPG, and financial services. The company has developed long-lasting relationships with blue-chip clients, and is known for high-quality application development and UI/UX services. Mobile Computing has high Net Promoter Scores (NPS), reflecting its reputation for delivery excellence and client satisfaction.

“Mobile Computing has a strong reputation as a trusted provider of top-tier engineering services, and I am extremely proud to welcome this high-performing team of professionals into our company. The acquisition of Mobile Computing expands Grid Dynamics’ global footprint and significantly enhances our follow-the-sun delivery model. By adding this talented team in Argentina, our clients now have expanded options in the Americas, complementing our established presence in the United States and Mexico. This acquisition also supports Grid Dynamics’ GigaCube growth strategy by offering our global enterprise clients expanded service capabilities and deeper industry expertise,” said Leonard Livschitz, CEO of Grid Dynamics.

Ignacio Garassino and Sebastian Wainztein, Co-CEOs of Mobile Computing, expressed the significance of the acquisition in a joint statement, noting, “Joining forces with Grid Dynamics is an exciting next step for our company. We’ve built a strong reputation for delivering top-tier digital solutions and, by becoming part of Grid Dynamics, we can offer clients a broader range of services to enable their digital transformation on a global scale.”

About Grid Dynamics

Grid Dynamics (NASDAQ: GDYN) is a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services. Fusing technical vision with business acumen, we solve the most pressing technical challenges and enable positive business outcomes for enterprise companies undergoing business transformation. A key differentiator for Grid Dynamics is our 8 years of experience and leadership in enterprise AI, supported by profound expertise and ongoing investment in data, analytics, application modernization, cloud & DevOps, and customer experience. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the Americas, Europe, and India. Follow us on LinkedIn.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding the expected benefits of the Mobile Computing acquisition, our product capabilities, and our company’s future growth including with customers and GigaCube strategy.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics’ control and are difficult to predict. Factors that may cause such differences include, but are not limited to our ability to achieve its expected benefits, as well as any factors limiting our product capabilities, the benefits of our products, and our company’s growth strategy.

Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the “Risk Factors” section of the Company’s quarterly report on Form 10-Q filed August 1, 2024, and in other periodic filings Grid Dynamics makes with the SEC.

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